SAN FRANCISCO, April 21, 2020 /PRNewswire/ -- FinancialForce, provider of the only modern ERP suite and the #1 professional services automation (PSA), today announced general availability of its Spring 2020 Release, supporting customers as they navigate changing market dynamics. The major release delivers powerful innovations across FinancialForce's ERP and PSA cloud solutions, including enhancements in intelligent project and resource management, global accounting, actionable analytics, next-generation user experience, and accelerated time-to-value.
"We worked closely with our customers on the Spring 2020 Release to advance our entire product portfolio," said Dan Brown, Chief Product and Strategy Officer, FinancialForce. "These new features will help customers better access key metrics, drive decisions, and support success amid a rapidly changing business climate."
With the Spring 2020 Release, customers gain insights and actionable data to make faster and better decisions, continuously assess both business health and risks, and forecast demand to take appropriate action. Advances support agility, productivity in the full range of work environments, and collaboration with employees, customers and partners.
"Companies today are under increased pressure to conduct frequent and even continuous cash flow analysis, revenue forecasting, and resource allocation," said R. "Ray" Wang, Principal Analyst and Founder, Constellation Research, Inc. "Organizations that take a 360-degree view of their business through real-time data and insights are better positioned for success. Customers expect their ERP vendor to forward-invest in innovation, especially requirements that support an organization's need to make faster and better-informed decisions for a strong future."
Key features of the Spring 2020 Release include:
Accounting & Financial Reporting: Personalizing analytics to customer needs
The Spring 2020 Release of FinancialForce Accounting & Financial Reporting offers more powerful personalization of analytics. Through custom objects, dynamic workspaces, and a new Income Statement (complementing the recently released Lightning Trial Balance report), customers will be able to work smarter and faster than ever before. Additionally, the new Deferred Revenue Reconciliation Report reduces manual reconciliation and data export for faster period close, while the Aged Analysis Report introduces new insights and predictability.
Accounting & Financial Reporting: Easily run international finances
To help companies manage their global operations better, FinancialForce Accounting & Reporting now offers several new features, including: multi-book functionality for maintaining separate books by entity, French and Spanish localizations and financial reporting, enhanced currency management revaluation and translation, and the ability to easily tailor language packs. FinancialForce now features global value-added tax (VAT) support through an integration with Avalara.
Billing & Revenue Management: Automate contract-to-revenue processes
The Spring 2020 Release continues the Salesforce Lightning Experience (LEX) journey by reimagining the Billing Central UX with native Lightning Web Components (LWC), improving user productivity and further automating billing processes. In FinancialForce Revenue Management, new Deferred Revenue Forecasting and Reporting (powered by Salesforce Einstein) helps streamline critical reconciliation processes during period close. Analysis Items in Billing Documents reduce data re-entry, streamlining the handoff from contract to billing and accounting.
Procurement, Order & Inventory Management: Strategically manage spend and contracts
FinancialForce Procurement, Order & Inventory Management offers new functionality to help customers better control spend, including Purchase to automate purchase order (PO) spend limits by time and value. Coupled with previous enhancements for accruals and recurring purchase orders that make spend management easier, the update helps customers more strategically manage supplier contracts.
PSA: Proactively keep projects on track
The enhanced Gantt chart in FinancialForce PSA gives customers both greater discipline around project management as well as overall improvements to user experience. In addition, the Project Burnup view, powered by Einstein and embedded in the Project, limits project overruns and warns when exceeding contracts. Integration to Slack adds seamless project collaboration and quick approval of time and expense.
PSA: See staffing supply and demand at a glance
As the world demands easier, more adaptive staffing and resource management capabilities, FinancialForce PSA now enables customers to optimize staffing with a unified view into supply and demand, including advanced visualization of resource schedules against requests.
PSA: Streamline the sales-to-service handoff
FinancialForce PSA can now automate opportunity milestones and project risk templates, removing manual steps and ensuring continuity between sales and services. Customers can also leverage a predefined set of Risks as they auto-create projects directly or via Templates, implementing best practices and mitigating project risk.
PSA: Forecast faster and more accurately
Accurate services forecasting is more important than ever. Using the latest version of FinancialForce PSA, services organizations can now plan for the future faster and more accurately, using enhanced support for fixed-fee forecasting supporting all revenue treatments, opportunity forecasts, and forecast scheduling.
Platform: Tap into the speed and power of LEX
With Billing Central now fully available in LEX, the Spring 2020 Release brings FinancialForce closer to providing a complete suite of LEX-only solutions. Across the board, the new release offers a modern, fully personalized user experience with embedded Einstein Analytics, actionable data, custom objects, and workspaces.
ACCELERATE: See business value sooner, boost adoption, and stay informed
The Spring 2020 Release includes enhancements to ACCELERATE, FinancialForce's product and service solutions created to accelerate business value across the entire customer lifecycle experience. The launch of the FinancialForce Customer Lifecycle eXperience Hub (CLX Hub) delivers a collaborative workspace complete with preconfigured application packages, best practices, and a business process model adaptive to the way people work. Customers can manage their configurations, metadata, settings, and data, and quickly and easily move between sandbox environments and production, increasing quality, consistency, and predictability.
The newly updated My FinancialForce Portal within the FinancialForce Customer Community now displays learning resources, license utilization and versions, and case information, as well as relevant success objectives and entitlements for Premier customers. Additionally, the My Project space has been updated with FinancialForce PSA Communities functionality, reinforcing its goal of allowing customers and project teams to seamlessly share project information and updates.
FinancialForce offers customer-centric business applications on the leading cloud platform from Salesforce. We accelerate business growth with the only modern ERP suite and the #1 professional services automation (PSA), enabling real-time insights and intelligent decision-making. See your customers in full color with FinancialForce. Founded in 2009 and headquartered in San Francisco, FinancialForce is backed by Advent International, Salesforce Ventures and Technology Crossover Ventures. For more information, visit www.financialforce.com.